Forex Android Apps: High Tech Trading

 

 

 

 

 

 

 

 

 

Forex android trading is about as high tech as it gets; while smart phones and mobile tablet devices may not boast quite the range and efficacy of features that are available to home traders, being able to monitor the market and make trades from a speeding train or restaurant is undeniably impressive. However no Forex android device is complete without the apps to go with it, let’s consider some of the ways that these apps can be utilized.
The most fundamental thing a trader can do with a Forex android device is keep track of market developments while on the move. In addition to tracking hundreds of currency pairs and exchange rates many modern devices are tuned into market news feeds so users can check out the forces behind market fluctuations.
The other thing a busy trader needs to do is trade! Admittedly Forex android trading is quite limited in many respects however it’s certainly possible to maintain a healthy trading career with a mobile device alone (as long as you can do without the fancy bells and whistles).
Some apps are dedicated to giving you a clear picture of the macroeconomic factors at play in the markets. For example there are apps that stream the latest info about the US economy such as inflation rates, national dept, stock indices, etc. These are intended to give your trades a strategic depth beyond historical figures.
Speaking of historical figures there are apps for that too! Many traders appreciate being able to reference historical precedents in order to make their trades more profitable and there are apps that make referencing and comparing such figures a breeze.
Finally a lot of Forex Android apps offer general tools for travelling businessmen such as quick currency convertors, world clocks, GPS and much more. Mobile trading is all about liberating the trader; why not give it a go?

Forex Autotrading: Time Saved is Time Earned

 

Forex autotrading allows trader to manage their Forex careers in far less time than was previously possible. Not only does has this provided dedicated traders with a lot more time to study, network and plot their trades, it has also swung open the doors of Forex trading to previously inaccessible demographics.

Nowadays professionals with busy work and personal lives can easily manage their Forex trades without having to dedicate a lot of time to the process. As a result Forex autotrading has drastically increased the productivity of traders as well as the number of people trading.

Forex autotrading was not the only factor that spurred this growth. Of equal significance has been the gradual uptake of Internet connected computers in households across the world as well as the development of extremely simple and effective trading applications such as Metatrader 4.

It’s also a lot easier to find a broker and open an account nowadays. Have a look online and you’re sure to find countless online brokers offering live/demo accounts as well as useful software and Forex training. In addition these brokers are likely to offer introducing broker programs as well. Take your time when looking for a broker however, not all of them are quite what they seem and scams are not unheard of.

How exactly does Forex autotrading work?

Most major trading applications offer Forex autotrading as standard. The trader simply has to configure the application to buy/sell the desired currency or asset when the specified market conditions emerge. This way a trader can never lose money as a result of not being available to place trades individually. It also means they never miss an opportunity if the conditions they specify are effective.

Where can I get more information about Forex autotrading?

Contact a good Forex broker to get more information!

MT4 Education Videos: What they Show You

 

 

 

 

 

 

 

 

MT4 education videos are a great way to get to grips with the best trading application in the business. A good workman never blames his tools and you certainly will have nothing to complain about when it comes to Metatrader 4. Metatrader 4 is the industry leader for functionality, depth and range of features, market uptake as well as accessibility and ease of customization. Of course at first glance Metatrader’s more advanced features might be difficult to figure out, that means that MT4 education videos are a must.

What sophisticated features do MT4 education videos explain?

MT4 education videos will first explain how the latest Forex data is streamed to the application and how you can keep close track of market figures and statistics. It’s also important that a trader learns how to assess the wisdom of trades and how to place orders with their broker.

Sophisticated features like autotrading are difficult to get to grips with without guidance. Autotrading involves setting up parameters for automatic trades in response to predictable market phenomena. The videos will show you how to configure Metatrader to make these automatic trades as well as a little bit of information about the unique dynamics of autotrading in comparison to traditional trading.

It’s important to get a good handle on autotrading as it is gradually becoming the industry norm for day to day trades. Not only does automated trading significantly reduce the amount of time necessary to manage an account, it also encourages traders to think outside the box and search for repeated patterns in the market.

The best source for Forex training videos is a dedicated forex broker. Most Forex brokers are more than happy to set up curious, would-be traders with Metatrader demo accounts and videos to guide them on their way. If you think Forex trading might be for you, you should contact a Forex broker today.

Global Currency and Gold

By Mike Hewitt and Dr. Krassimir Petrov

1. Introduction

In this essay we attempt to estimate global money supply and relate it to global supply of gold. For the global money supply, we use money supply figures for currency in circulation from 86 selected currencies, from 81 independent countries and five monetary unions. For the global supply of gold, we use data from the World Gold Council (WGC). Finally, we attempt to interpret the price of gold as a relationship between global money supply and global gold supply.

2. Data Description

For money supply, we consider five monetary unions and 81 sovereign (independent) currencies. Here is a quick survey of those unions. The first monetary union is the European Monetary Union (EMU), commonly known as the Eurozone, and using the Euro as a common currency. It includes 16 Western European countries, such as Germany, France, Belgium, and Austria. The second currency union is the East Caribbean Currency Union, which uses the East Caribbean Dollar, and includes members like Antigua and Barbuda. The third union is the West African Monetary Union (UEOMA), using the West African Franc, and includes members like Benin and Burkina Faso. The fourth union is the Central African Monetary Union, technically known as CEMAC, which uses the central African Franc, and includes members like Cameroon, Chad, and Congo. The fifth union is technically known as the IEOM, uses the French Pacific Franc, and includes members like French Polynesia and New Caledonia.
Table 1 below, Currency Unions, provides the details for each currency union, such as its popular and technical name, its currency name, currency code, and member countries.

Table 1. Currency Unions

The five currency unions and 81 independent currencies cover a total of 122 countries that make up 98.4% of the world's GDP and 86.1% of the world's population. Figure 1 below visualizes the coverage. Areas with grey color on the map represent countries without available data. Areas with blue, red, and orange color represent the three most important economic unions, respectively the European, the West African, and the Central African Unions.

Figure 1. Countries Included in the Analysis

 

Reliable money supply data could not be found for all countries. The five largest economies for which data was unavailable were: Morocco, Vietnam, Angola, Sudan, and Cuba. These countries comprise 0.6% of world GDP and 2.8% of world population. Their relatively insignificant share of the global economy makes us believe that their exclusion from our analysis would not materially affect our results and our conclusions.
Myanmar (Burma) requires a special note. Cross-country money supply comparisons rank Myanmar very high. This apparent paradox arises from the discrepancy between the overvalued official exchange rate and the more realistic "black market" exchange rate. For the local currency, the 2005 money supply is reported at 1.83 trillion kyat (MMK). The official exchange rate (6.7147 MMK to 1 USD) makes this the fifth most valuable currency in the world with a value of US$273 billion. The unofficial black market exchange rate (1300 MMK to 1 USD) provides a value of only US$1.4 billion. In our opinion, the official rate overvalues the currency roughly 200 times and introduces an obvious bias in the data, so Myanmar money supply was not included.

3. Monetary Aggregates

The Bank of International Settlements (BIS) provides a link on their website that lists central banks for different countries. The following charts and tables use money supply data from these official websites, whereby each link identifies the economic area.
Unfortunately, there is no unified methodology for calculating different monetary aggregates. This presents analytical problems as different countries use different definitions of money supply. Different definitions, in turn, require different methodologies for calculating different monetary aggregates, which immensely complicates cross-country comparisons. Unfortunately, we are not aware of any widely accepted solution to this particular problem.
Quite commonly, money is conceptually defined across a continuum from narrow money to broad money. Narrow money typically includes highly liquid forms of money that function as a medium of exchange, while broad money additionally includes other less liquid forms of money that function as a store of value. Monetary aggregates are conventionally denoted in ascending order by M0, M1, M2, M3, etc. Smaller aggregates like M0 and M1 correspond conceptually to narrow money supply, while larger aggregates like M2 and M3 correspond to broad money supply. We should note that in the heady days of monetarism, economists have further elaborated those aggregates and have devised M4, M5, M6, etc.
Most generally and most commonly, but not necessarily uniformly, M0 refers to outstanding currency (banknotes and coins) in circulation, but excludes cash reserves. M1 includes M0, demand deposits, and cash reserves. M2 includes M1 and savings deposits, conventionally maturing within two years or redeemable at notice within three months. M3 includes M2, repurchase agreements, money market funds, and debt securities maturing within two years.
Additionally, not every country publishes all four of the common monetary aggregates. For example, the U.S. Federal Reserve ceased publishing M3 on May 23, 2006. However, various independent sources have successfully reconstructed the M3 series and have continued to publish it.
For our analysis, we concentrated exclusively on the narrowest measure of money supply, M0. Conceptually, it corresponds best to the monetary interpretation of gold. We expect it to relate well to the value of gold, although further studies may be necessary to analyze the relationship of gold to higher aggregates, such as M1, M2, and M3.

4. Global Currency Comparisons

The following pie charts in Figure 2 below show the relative value of global currencies (M0) when converted to USD for means of comparison.

Figure 2. Global Narrow Money Supply

 

The left-hand side of the figure shows that the four largest currencies in circulation comprise nearly three-quarters of the global narrow money supply. Not surprisingly, those currencies are the Euro, the U.S. Dollar, the Japanese Yen, and the Chinese Yuan. The right-hand side zooms in on the "other" 79 currencies of the left-hand side that were simply too small to see when shown together with the big currencies. We show the next thirteen most important currencies that comprise more than half of the "other" category. It is clear from the picture that those thirteen currencies are relatively small compared to the big currencies. Nevertheless, it illustrates well their portion of the global money supply.
Next, we consider narrow money supply growth rates. For the whole dataset, the average growth rate of M0 is 8.2%. Table 2 below shows the twelve currencies with the fastest annual growth rates of M0, shown in the middle column highlighted in yellow:

Table 2: Fastest Growing Currencies in Relative Terms

*The Reserve Bank of Zimbabwe ceased publishing any statistics after June 2008 at which point 1 USD equalled 40.9 billion Zimbabwe Dollars.

It is clear from the table above that while their growth rates are relatively high, the value of these currencies are relatively small in absolute terms.
On the other hand, when converted to U.S. Dollars as of Oct 31, 2008, the fastest growing currencies in absolute terms are shown in Table 3 below.

Table 3: Fastest Growing Currencies in Absolute Terms

From the comparison of the two tables above, it is quite obvious that the rapidly inflating currencies are too small to significantly affect global money supply growth rates. From the second table it is clear that the "big" currencies contribute the bulk of increases in the global money supply. From this particular analysis we can conclude that a sample of the largest 10-15 currencies in the world can provide a meaningful analysis of the growth rate of global money supply.

5. Money Supply vs. Gold Supply

It is estimated by the WGC that a total of 165,547 tonnes of gold have been mined. This is equivalent to about 5.32 billion ounces. Most of that gold is currently available as supply at some price, possibly much higher than the current market price. Given that the total gold supply is relatively stable and that very little gold is consumed in industrial processes, the annual increase in the supply of gold from current mining is relatively stable -- about 1.5%.
Figure 3 below shows the calculation of the value of all gold ever mined. The top left graph in the figure shows the price of gold for the period of 1970-2008. The top right graph in the figure shows the quantity of all gold mined for the same period. Finally, the bottom graph in the figure shows the product of the price with the quantity, which represents the value of all gold ever mined.
The October 31, 2008 closing spot price for one troy ounce of gold was US$806.62. Multiplied by the corresponding quantity, the total value of all gold ever mined was US$4.3 trillion. This is just slightly more than the US$4.03 trillion global M0 money supply from Figure 2 above.1

Figure 3. Global Value of Gold

 

Figure 4 below shows a historical comparison for the value of mined gold against that of currency in circulation. This chart essentially overlays our previous data on global money supply with the data on the value of gold. It provides the basis for our valuation of gold.

Figure 4. Global Money Supply vs. Global Value of Gold

 

6. Gold Valuation

The period from 1945 to 1971 is widely known as the "Bretton Woods" era. The chief aim of the Bretton Woods Agreements was to establish the rules for commercial and financial relations among the world's major industrial countries. The policy required that each country maintained the exchange rate of its currency within a fixed value--plus or minus one percent - to the U.S. Dollar, which in turn would be convertible to gold at the rate of US$35/oz for foreign governments.2 The system collapsed when President Nixon took the U.S. Dollar off the gold standard on August 15, 1971 in response to growing demands from foreign governments to exchange their paper dollars for U.S. Treasury gold. At that time there was some speculation by professional economists and Wall Street that the price of gold would collapse as the U.S. Dollar 'would no longer hold it up'. In reality, just the opposite occurred - not only did gold not collapse, but instead it began a multi-year bull market, reaching an intraday peak of US$873 a troy ounce on January 21, 1980.3
Our analysis essentially begins with the collapse of Bretton Woods. The first major observation is that during the 1970s, gold advanced much farther than money supply. There are two fundamentally different explanations for this phenomenon. The first explanation, espoused by neoclassical economists, is that gold is inherently more volatile and more unstable than paper currencies. The other explanation, espoused by the School of Austrian Economics, holds the opposite to be true and that price swings in gold reflect the discounted value of expected future inflation. In other words, Austrian economists contend that the monetary policy associated with paper currencies is inherently unstable, and this instability of paper currencies is magnified when discounted to the current price of gold; this discounting mechanism generates the apparent excessive volatility of gold.
The second fundamental observation is that during the 1970s, gold rose at significantly faster rates than money supply. Neoclassical economists explain this with the inherently volatile nature of gold. However, volatility simply cannot explain this 10-year trend. Volatility relates to variability in prices around the trend, not to the direction of the trend. Neoclassical economists have no meaningful explanation here, except to resort to volatility of gold and irrational behaviour of gold "bugs". On the other hand, the explanation by Austrian economists is straightforward and logical: as inflation accelerated throughout the 1970s, the discounting mechanism of the gold market resulted in accelerating price of gold from the rising inflationary expectations.
The third fundamental observation is that there is a possibility for a long-term divergence between the value/price of gold and global money supply. This divergence is obvious for the period of 1980-2000. The neoclassical school has not offered a satisfactory explanation for this phenomenon except to point out disparagingly that gold is a "barbarous relic", "irrelevant" or "dead". The Austrian explanation, however, is again quite straightforward: the period was generally characterized by disinflation, so the discounting mechanism produced lower gold prices due to the falling inflationary expectations that more than offset increases in money supply.

7. Conclusion

This analysis leads us to speculate that while divergences caused by inflationary expectations can last for a very long time, even decades, the long-term price of gold is driven by global money supply. 
Notes-->

Notes

1 As an interesting aside, one may note that the present U.S. debt of US$10.5 trillion easily exceeds the value of ALL circulating currencies in the world PLUS the value of all gold ever mined! A naive person may wonder just exactly how the American government ever intends to pay this debt off...

2 It was illegal for Americans to own gold for investment purposes since President Roosevelt signed Executive Order 6102 on April 5, 1933. It wasn't until Dec 31, 1974 when Americans could own once again own gold coins, bars and certificates.

3 In nominal terms, gold did not surpass this level until Jan 8, 2008 - nearly some 28 years later.

Published originally on DollarDaze.org - Jan 27, 2009.

_____

© 2009 Mike Hewitt and Dr. Krassimir Petrov

ABOUT THE AUTHORS

	Mike Hewitt is the editor of DollarDaze.org, a website pertaining to commentary on the instability of the global fiat monetary system and investment strategies on mining companies. His website also provides a no-cost market data feed service with up-to-date quotes on currency exchange rates, commodity prices and major indices. Mike can be emailed at mikehewitt@hotmail.com.
	Dr. Krassimir Petrov received his Ph. D. in economics from the Ohio State University and currently teaches Macroeconomics, International Finance, and Econometrics at the Prince Sultan University located in Riyadh, Saudi Arabia. He is a frequent contributer to www.FinancialSense.com, and a collection of his writings may be found here.

Disclaimer: The opinions expressed above are not intended to be taken as investment advice. It is to be taken as opinion only and I encourage you to complete your own due diligence when making an investment decision.

currency, oil, gold briefly

Week was bad for the euro may be even worse next week if you do not allow the Greek parliament a package of measures to stress. Have led to concerns about Greece fall of the euro against the dollar for three consecutive sessions, pushing the single currency fell by 0.9% for the week and by 1.6% during the month. Euro closed at 1.4220 dollars, and closed at 114.12 Japanese yen.
· Turn the pound sterling on Friday towards the losses against the dollar for the third day in a row, have expectations about cash incentives to encourage dealers to lift the centers of the bullish trend as all the bounce attract more sellers. Pound closed at 1.6015 dollars, the euro has closed at 0.8875 pounds. 
· Canadian dollar fell on Friday to its lowest level in more than a week against the U.S. dollar continued its losses, which began in the middle of the week following the aggravated concerns about the debt problems of the euro area.
· Brent crude prices fell on Friday during intermittent dealings with the European debt problems led to the revival of the dollar index and oil continued to decline for the next day after it announced the consuming countries use strategic reserves.
· Price of gold fell sharply on Friday for the second straight session and reached its lowest level in a month, where concerns have led Greece to the rise of the dollar and pressure on the stock markets and commodities. gold closed at 1514.50 dollars

Forex Trading Benefits

Advantages of Trading with FXCM

Forex Execution Center

FXCM's No Dealing Desk Forex Execution aims to provide transparent and fair execution. Every trade is executed back to back with one of multiple liquidity providers,§ which compete to provide FXCM with bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip for major currency pairs.

Lower Spreads

• Euro/U.S. dollar spread is frequently 2.6 pips, British pound/dollar 3 pips
• Trade on rates provided to FXCM by multiple liquidity providers
• FXCM's average monthly trading volume drives price competition
• Fractional pip pricing facilitates the tightening of spreads even further

No Dealing Desk Execution

• No conflict of interest between broker and trader
• No dealer intervention in trades
• Liquidity providers do not see your stops, limits, and entry orders
• Competition reduces the potential for market manipulation by price providers

No Trading Restrictions*

• Trade during breaking news
• Place entry orders anywhere—even inside the spread
• Scalp the market
• Rollover transparency—all amounts are displayed in advance
• Receive positive rolls at all margin levels

Facts about FXCM, Inc. (“FXCM”)

Due to the average notional trading volume that FXCM generates, FXCM has obtained close relationships with some of the most aggressive price providers. Having multiple price providers is especially important in volatile markets, when one or two liquidity providers may post wide spreads, or simply avoid quoting any price at all. With multiple liquidity providers quoting prices to FXCM, there are competitive spreads, even during market-moving news events.
FXCM does not take a market position—eliminating a major conflict of interest. A dealing desk broker, which acts as a market maker, may be trading against your position. However, with our No Dealing Desk Forex execution, we fill your orders from the best prices available to us from the liquidity providers. These prices include our mark-up, which may vary based on account type and liquidity provider. While an individual liquidity provider may try to skew its prices off the market, the unattractive price on the bid or ask side will lose the price competition and as a result, not factor into the prices streamed to you. At FXCM, prices are not subject to manipulation by a broker or a liquidity providers dealing desk.
While our competitors are beginning to follow our example of offering No Dealing Desk Forex execution, we have successfully implemented it. Excellent bid and ask prices are not meaningful unless you have a reliable trading platform to execute trades. Our trading platform is tested in all market conditions.
FXCM aims to provide clients with the best pricing available and to get all orders filled at the requested rate. However, there are times when, due to an increase in volatility or volume, orders may be subject to slippage. Read more

How to Use Currencies to Trade Gold

Want to take a position on gold without trading the yellow metal itself? Here's a way to get the same results by trading currencies.

"A lot of the time when you think of a currency to trade a commodity, you look for the country that exports a lot of that commodity," said Rebecca Patterson, global head of currencies and commodities for J.P. Morgan's private bank.

But that is not always the best approach, Patterson said. For example, South Africa is a major gold exporter, but Patterson says the currency is too volatile and the South African economy too uncertain. The good news is you can find other currency-based ways to "trade" gold, she told CNBC's Melissa Lee.

The key is considering why you want to buy it.

If gold is an inflation hedge for you, "the Australian dollar, [AUD=X  1.0242    0.0076  (+0.75%)   ] even the Canadian dollar [CAD=X  0.9887    -0.0057  (-0.57%)   ] might work," Patterson said.

But if you are buying gold for risk aversion, Patterson said, "Go with the Swiss franc."[EURCHF=X  1.0336    0.0032  (+0.31%)   ] 

She likes the fundamentals in Switzerland, and she says the Swiss franc "has had almost a 90% daily correlation with gold against the euro for the last two years."

The trade Patterson recommends is buying the Swiss franc and selling the euro at current levels, with a stop about 1% above current levels and a target of 2% below.

Todd Gordon, co-head of research and trading at Aspen Trading Group, concurred on a technical basis. He noted five waves in the Swiss franc/euro price pattern, and called current levels of Swiss franc/euro "a great entry point."

SLAPPA KIKEN Laptop Bag

SLAPPA KIKEN Laptop Bag

A seriously kick-ass bag for your serious gear

I knew the minute that I unboxed the SLAPPA KIKEN laptop bag that it was a pretty bad-ass piece of business. Puncture-proof ballistic nylon - customizable front flap options - checkpoint friendly AND roomy enough for a 17" laptop? It was enough to make me yell "KIKEN!" and karate chop things. And I did! Good thing only the dog was watching.

First, let's talk aesthetics: thanks to SLAPPA's patent pending M.A.S.K. technology, you have a choice of flaps to customize the look (and functionality) of your bag. SLAPPA sent me three to try out and they easily zip on and off. (Think Karate Kid style: Flap on. Flap off.) I'm a fan of the Lime Blast (I likes a punch of colour). The monochrome P-Tac Matrix flap is very cool looking, and there is also a woven flap called Jedi Mind Trix, which has velcro straps to let you carry more gear (including a yoga mat, if that's your thing. Jedis love the yoga). Note: you can see pics of these flaps in action over on Flickr.

Now for functionality: Just under the front flap are three very large rectangular, zippered compartments. When you're on a trip and making a presentation, you'll be able to fit all you need to connect your laptop to their projector and to a power source. External drives, powerbricks, adapters, and cords have roomy compartments and won't be mingling with your socks and underwear. The hardware on this bag is, like the bag overall, well-made and sturdy.


The interior of the bag is comprised of two clamshells that open completely for security-friendly scanning. One of the smartest features of the bag are the velcro flaps. When you want to open the clamshell compartments fully, unvelcro the sides - when you want to use the compartments as pockets, just secure the sides again. KIKEN!

The large shell storage section in the front of the bag will easily handle reading material, a few days' worth of clothes and your toiletries. A row of storage pockets provides organization to tuck away electronic accessories. Great detail: all of the lining is red so you easily locate items in bag.

The shell in the rear of the bag has a cushioned compartment that protects a laptop up to 17" (and SLAPPA notes that it'll fit Alienware m17X). This compartment faces a large zippered pocket, perfect for stashing work documents. Going through airport security, you just open this clamshell to scan. Everything is secured. Nothing's falling out.

The bag can carry a lot, so it's heavy when packed. Wearing the strap across the body is crucial. The adjustable shoulder strap, with its comfy shoulder pad, extends to approximately 51" from hardware to hardware at its max. If you are tall or have a sturdy build, the bag may sit a bit high on your body. To mitigate that, however, is the signature SLAPPA cushioned hand logo on the back of the bag, which keeps your heavy gear from bruising your hip or side.

Also, because this bag is meant to keep your tech gear safe, there aren't any easy access pockets anywhere on the exterior. Not great for getting to your passport or wallet quickly when travelling - but hey, if you can't get to them easily, neither can thieves. KIKEN!

All in all, if you are searching for a bag that will handle your tech gear, your overnight clothes and your monster laptop, consider the SLAPPA KIKEN customizable laptop bag. The kick-ass KIKEN retails for $129.99 over at SLAPPA.CA or SLAPPA.COM.

EXCHANGE RATES (AED)

EXCHANGE RATES (AED)
Aug 4, 2011
CURRENCY	UAE		QATAR		OMAN
	BUY	SELL	BUY	SELL	BUY	SELL
Dollar	3.653	3.685	3.6298	3.6502	0.3815	0.388
Euro	5.12416	5.33059	5.1023	5.2895	0.5428	0.552
Sterling	5.88124	6.10821	5.8382	6.0211	0.622	0.6327
Swiss Fr.	4.70111	4.91362	4.682	4.8419	0.5023	0.5078
Yen	0.04658	0.04888	0.0462	0.0484	0.00497	0.00503
D.K.	0.68953	0.7172	0.68	0.7162	0.0731	0.0744
Swd. Kr.	0.5644	0.58653	0.5623	0.5859	0.0598	0.0608
Can.$	3.76843	3.903	3.7424	3.8938	0.3982	0.4047
Aus.$	3.88356	4.08499	3.8517	3.9981	0.4104	0.4176
N.Z.$	3.11677	3.24754	—	—	0.3305	0.3357
H.K.$	0.46404	0.47818	0.4545	0.4804	0.0489	0.0496
Sing$	2.98307	3.11636	2.9832	3.0983	0.3171	0.3212
Mal.R	1.22211	1.24541	1.2236	1.2251	—	—
Jord.D	5.12428	5.24911	5.0903	5.2663	0.538	0.552
Ind.Rs	0.08062	0.08458	0.0808	0.0847	0.00864	0.00875
Pak.Rs	0.04159	0.04352	0.0418	0.0429	0.00431	0.0045
SL.Rs	0.03286	0.0341	—	—	0.00332	0.00372
P.Peso	0.0853	0.08834	—	—	—	—
Cyp.£	9.13768	9.32427	9.1495	9.161	—	—
B.Taka	0.04822	0.04993	—	—	0.00495	0.00519
GULF CURRENCIES
UAE Dh	—	—	0.985	0.998	0.1043	0.1057
BD	9.5738	9.9137	9.5475	9.7784	1.013	1.029
SR	0.9625	0.9972	0.9657	0.9806	0.1022	0.1033
QR	0.9947	1.0209	—	—	0.105	0.1063
RO	9.4077	9.6512	9.3553	9.5789	—	—
KD	13.2281	13.7075	13.1833	13.5498	1.4035	1.4225
Rates supplied by Emirates Bank Intl, Dubai, HSBC Bank Middle East, Doha and National Bank of Oman, Muscat

China blasts US over debt problems

China blasts US over debt problems

(Reuters)

6 August 2011

SHANGHAI - China roundly condemned the United States for its ‘debt addiction’ and ‘short sighted’ political wrangling and said the world needed a new stable global reserve currency. In a harshly-worded commentary by the official Xinhua news agency on Saturday, China gave its first official comments on the United States losing its gilded AAA long-term credit rating from Standard & Poor’s. ‘China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s dollar assets,’ Xinhua said. China also urged the United States to apply ‘common sense’ to ‘cure its addiction to debts’ by cutting military and social welfare expenditure. ‘The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone,’ Xinhua wrote. China also said further credit downgrades would very likely undermine the world economic recovery and trigger fresh rounds of financial turmoil. ‘International supervision over the issue of US dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country,’ Xinhua said. Chinese economists said the US credit rating downgrade posed a great risk to financial markets and they expected it to prompt China, the world’s biggest holder of US Treasuries, to accelerate the diversification of its holdings. S&P cut the United States’ rating to AA-plus on concerns over the government’s budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the US government, companies and consumers. ‘There would be chaos in international financial markets at least in the short term. The most direct impact for China would be the hit on its reserves. The value of China’s dollar investments will fall and the shrinking effect may be great,’ said Li Jie, a director at the Reserves Research Institute at the Central University of Finance and Economics. Earlier this week, China had urged Washington to act responsibly to deal with its debt issues, saying uncertainty in the US Treasuries market will undermine the global monetary system and hamper global growth. Beijing has repeatedly urged Washington to protect its dollar investments, estimated by analysts to account for about two-thirds of its $3.2 trillion in foreign exchange reserves, the world’s largest. ‘China will be forced to consider other investments for its reserves. US Treasuries aren’t as safe anymore. There is a class of assets out there that are more risky than AAA, but less risky than AA+. China didn’t consider these investments before, but now it would be forced to do so,’ Li said. Earlier this week, the United States narrowly avoided a default after lawmakers from across the political divide came together to hammer out a deal that would raise the country’s borrowing authority after weeks of rancorous partisan battles. S&P’s downgrade may also push the United States to ease monetary policy further, causing even more uncertainty in global markets, said Ding Yifan, a deputy director at the Development Research Centre, a think tank under the State Council. ‘I think the chance of the United States launching another round of quantitative easing is rising, as outside investors may try to avoid dollar assets, leaving the Fed with no choice but to buy their own Treasuries,’ Ding said. ‘If the United States really introduces QE3, it will definitely add more uncertainties to the global economy and could push up the prices of global commodities,’ he added. The US Federal Reserve holds its next policy-setting meeting on Tuesday. Economists see little chance that the Fed will announce another round of bond purchases then.

Easy Forex Trading Tips

Easy Forex Trading Tips

Easy Forex trading

is something of an oxymoron.
While certain aspects of trading Forex have been made simpler by the development of information technology, it remains as difficult as ever to predict how the values of currencies are going to rise or fall.
In fact due to the higher general standard of Forex education these days, ‘easy Forex trading’ has never been more competitive. However there are some fundamental concepts that when grasped should improve your trades dramatically.
The words ‘Forex trader’ probably conjure up the image an uptight yuppie yelling at his cell phone, but the fact is that successful Forex trading requires more than a studious devotion to graphs and figures. A real Forex trader is a philosopher, someone who looks at the chaotic global picture, understands it, and thus produces accurate predictions about the future of currencies.
Typical indications that a country’s currency is about decline include political conflicts such as war and civil unrest, economic recession, high unemployment and costly natural disasters such as earthquakes and floods. Indications that a country’s currency is going to increase in value include economic success, the resolution of political conflicts, and increases in the value of the country’s resources such as oil or gold.
Different currencies and commodities relate to each other in a variety of ways. For example the values of gold and the US dollar are closely tied to one another. Easy Forex trading involves learning to recognize these patterns and exploit them.
The US dollar is a traditionally strong, stable economy; after the dollar the safest investment in Forex is probably gold. For this reason whenever there are doubts about the future of the US economy traders tend to buy up all the gold they can. They do this because they know that the value of gold is unlikely to fall suddenly or significantly, and even if it does it will probably recover its value before long.

Gold Price Android App

Gold Price Android App

GOLD PRICE Live is a FREE Gold Price Android App

iPhone app also available here : Gold Price iPhone App

Android Market Link: (works only with the Android Browser)
market://search?q=pname:org.goldprice.app

If you scan the QR code on the left with your Android mobile phone, you’ll be taken straight to the GOLD PRICE Live listing in the Android Market so you can download the app.

GOLD PRICE Live provides real time and historical silver and gold price charts in your national currency. Silver and gold prices from all major US gold dealers compared.

Locate the best deals on all popular silver and gold coins and bars and call the gold dealers right from within the GOLD PRICE Live android app.

Daily gold commentary from Franklin Sanders to keep you informed about trends in silver and gold and the critical support and resistance levels plus end of day quotes for the US Dollar, Dow Jones, S&P 500, Platinum Price, Palladium Price, Silver Gold Ratio, Gold Silver Ratio, Dow in Gold Ounces and Dow in Silver Ounces.

Features:

- Live Silver Price and Gold Price charts in 26 national currencies, gold prices update every 1 minute, charts automatically refresh.

- Silver and gold price history charts including 1 day, 3 days, 30 days, 60 days, 1 year, 2 years, 5 years, 10 years, 15 years, 20 years,
25 years, and up to 36 years.

- Gold Price Charts in these currencies: USD, AUD, CAD, GBP, EUR, AED, ARS, BRL, CHF, CNY, COP, HKD, IDR, INR, JPY, KWD, MXN, MYR, NZD, PHP, RUB, SEK, SGD, TRY, VUV, ZAR

- Silver Price Charts in these currencies: USD, AUD, CAD, GBP, EUR, BRL, CHF, CNY, HKD, INR, JPY, KWD, MXN, NZD, RUB, TRY, ZAR

- Compare prices of all types of gold bullion and silver bullion to find the lowest priced gold and silver coins and bars so you get more gold and silver for your money.

- Compare prices of USA gold dealers to find the best deals today on all popular gold and silver coins and bars.

- Gold dealers are ranked by price for each type of bullion coin and bar with the premium above the spot gold price shown for each, all in one spot on your android phone.

- Click on the gold dealers phone numbers within the Gold Price Live android app and call them right away to buy gold and silver.

- Historical Charts of all popular gold and silver bullion coins showing the maximum, average and minimum price for the past 30 days, 60 days, 6 months and 1 year.

- Gold Dealers in other countries coming soon.

- Save your favorite charts collection then view them all in one convenient place on the home screen of the app, along with today's gold commentary.

- Simply turn your phone to landscape to enlarge the charts to fill the entire screen and then you can scroll through all your favorites as they update automatically in real time.

GOLD PRICE Live is a free Gold Price Android App

Android Market Link: (works only with the Android Browser)
market://search?q=pname:org.goldprice.app

Gold Price Has Broken

Gold Price Has Broken Out Into a New Rally

Gold Price Close Today :1,180.10
Gold Price Close 22nd April: 1,142.30
Change: 37.80 or 3.3%

Silver Price Close Today : 18.611
Silver Price Close 22nd of April: 18.006
Change 60.50 cents or 3.4%

Platinum Price Close Today: 1,739.40
Platinum Price Close 22nd of April: 1,743.00
Change: 52.70 or 3.1%

Palladium Price Close Today: 551.55
Palladium Price Close 22nd of April: 565.50
Change: -13.95 or -2.5%

Gold Silver Ratio Today: 63.41
Gold Silver Ratio 22nd of April: 63.44
Change: -0.03 or -0.0%

Dow Industrial: 11,008.61
Dow Industrial 22nd of April: 11,134.29
Change: -125.68 or -1.1%

US Dollar Index: 81.896
US Dollar Index 22nd of April: 81.573
Change: 0.32 or 0.4%

Let's look at the week: who gained, who lost? The US dollar index probably peaked for a while this week, but showed a 32 basis point gain in spite of its weakness late in the week. Stocks fell significantly, turned back by unconquerable resistance and their own improbability. Platinum and palladium had their sails lightly trimmed, while SILVER and GOLD PRICES leapt more than 3%, proving they have begun a new rally.

Yesterday I wrote, "What would comfort my wearied apprehension? The GOLD PRICE smashing definitively through $1,170, silver topping $18.80, and the Gold/Silver ratio dropping through 62:1. That would erase all the ambiguity."

Today silver and gold met most of my requirements. The gold price rose $11.70 to close on Comex at $1,180.10. The SILVER PRICE rose 6.2c to close at $18.611, besting the last big high, although not $18.80. That will come Monday. Finally, the gold/silver ratio edged closer to 62:1, but remains 1.4 points above. Not everything, but a lot.

The gold price has broken out into a new rally. Clearly it is meeting lots of disbelieving sellers as it rises. Don't join them, because the gold price is headed much higher in May: much higher. Beneath them, the gold price must hold $1,160 and the silver price $18.50. As long as they hang on there, they're all right. This rally should raise the gold price to $1,300 or higher and the silver price to a new high above $20.68.

Buy the breakouts. Of course, you don't have to. You can wait to buy until the gold price reaches $1,300 and the silver price reaches $25.00.

The US dollar index made a higher high this week, but last three days has been struggling to remain afloat, and today sank beneath the waves at 82. Right now it's trading down 10.7 bps at 81.896. "Below 82" breaks the magic, and the morale. This week the dollar tried to break through 82 and even reached 82.71 intraday, then failed shamefully. Now it's only 65 bps above its 20 day moving average, but also remains above its 200 week moving average. Next week looks tough for the dollar and it may visit 78 before it visits 88.

This week the Dow on Monday made a new high close for the move at 11,205.03. Sounds great, huh? But . . . Next day it sank 213 points, rose 53 on Wednesday, rose another 122 yesterday, then vomited up nearly all that gain today with a 158.71 point fall to 11,008.61. S&P fared worse, losing 20.09 to close at 1,186.69.

Sorry, I must say it: Dow's five day chart looks most emphatically double-toppy. The Bridge over the River Plunge now stands at 11,000, and once the Dow breaks that the rats will begin running for the jungle. I believe y'all have seen the top in stocks for the rally that began in March 2009. As I have begged you all before I now beg again, for your own sakes, for your families' sakes, get out of stocks.


Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2010, The Moneychanger. May not be republished in any form, including electronically, without our express permission.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.

USD/EUR Details

USD/EUR Details

USD/EUR for the 24-hour period ending Saturday, Jun 18, 2011 22:00 UTC @ +/- 0%

Selling 1.00000 USD		you get 0.69867 EUR
Buying 1.00000 USD		you pay 0.69916 EUR

Rate Details

USD/EUR for the 24-hour period ending

Saturday, Jun 18, 2011 22:00 UTC

		Bid Sell 1 USD		Ask Buy 1 USD
MIN		0.69867		0.69916
AVG		0.69867		0.69916
MAX		0.69867		0.69916

These values represent the daily average of the Bid and Ask rates OANDA receives from many data sources.

Recent Trends

USD/EUR average daily bid prices

May
20

May
30

Jun
9

Jun
19

0.6830

0.6901

0.6973

0.7044

0.7115

30 days

60 days

90 days

INTERACTIVE GRAPH

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Gold In US Dollar per ounce - (GOLD)

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Gold In US Dollar per ounce - (GOLD

Forex 1-2-3 Method

This particular technique has been around for a long time and I first saw it used in the futures market

Lets first start with the basic concept. During the course of any trend, either up or down, the market will form little peaks and valleys. see the chart below: Since then I have seen traders using it on just about every market and when applied well, can give amazingly accurate entry levels.

The problem is, how do you know when to enter the market and where do you get out. This is where the 1-2-3 method comes in. First let's look at a typical 1-2-3 set up:

Nice and simple, but it still doesn't tell us if we should take the trade. For this we add an indictor. You could use just about any indictor with this method but my preferred indictor is MACD with the standard settings of 12,26,9. With the indictor added, it now looks like this:

Now here is where it gets interesting. The rules for the trade are as follows:

Uptrend This works best as a reversal pattern so identify a previous downtrend. Wait for the MACD to signal a buy and for the 1-2-3 set up

Forex 1-2-3 Method

Information, charts or examples contained in this lesson are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice. For further information please read our disclaimer